The Panama Papers, the €10 billion in unreported transfers, ‘Don’t expect too much’ says Secretary of State for Tax

The Secretary of State for Tax Affairs, Fernando Rocha Andrade, said to a committee of inquiry into tax evasion that we really shouldn’t expect too much from the Panama Papers, nor from the €10 billion transferred from Portugal, that went undetected due to a ‘mistake.’

Andrade revealed today in Brussels that the Portuguese Tax Authority is ‘aware’ that there are 165 taxpayers in Portugal uncovered in the Panama Papers and that when the Tax Authority was alerted, it immediately joined an OECD working group ‘to exchange information and methods.’

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